Home Highlights May 2013 Year 2013 This

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1. The Income Tax Appellate Tribunal (ITAT) examined the addition made u/s 56(2)(viib) for the difference between the market value and consideration received for shares...

2. Addition u/s 56 (2)(viib) - Valuation of shares - Faire Market Value (FMV) - the assessee has himself filed a valuation certificate before AO and accepted fair market...

3. Addition u/s 56(2)(viia) - purchase of shares at price more than its fair market value - The tribunal extensively reviewed the submissions and evidence presented,...

4. Excess premium charged on issue of shares u/s.56(2)(viib) - The value adopted by the Assessing Officer under net asset value method even though a prescribed method does...

5. Valuation of imported goods - Polyurethane Sealant - enhancement of value solely based on appellant's acceptance letter whereby price was increased 5 times declared...

6. Shares granted under Employees Stock Purchase Scheme (ESPS) had a lock-in period and could not be traded in the open market. The Fair Market Value (FMV) could not exceed...

7. Taxability of long term capital gain on sale of immovable property - value u/s 50C - difference in value determined by the SVA and DVO - These facts clearly establish...

8. Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount...

9. Addition u/s 68 - assessee’s alleged failure to explain as to why the subject shares which had a face value of Rs. 10/- were issued at a premium of Rs. 90/- per share -...

10. Capital gain on sale of shares - market price or agreed price - transfer of shares by obtaining interest free loans for a long tenure coupled with call option agreements...

11. The assessee purchased agricultural land whose stamp duty valuation was lower than the actual purchase consideration. The authorities sought to invoke section 56(2)(x)...

12. Valuation - price variation clause - the price of finished goods is to be revised and duty is to be paid on higher price. In case the price of raw material falls, the...

13. Taxability of share premium collected by assessee u/s.56(2)(viib) - fair market value of shares - when the assessee has substantiated share price to the satisfaction of...

14. Addition u/s.56(2)(vii)(b) - share premium - difference between the issue price and the actual share price determined by the AO - AO has changed the method of valuation...

15. The Tribunal held that the workings provided by the Department for determining the fair market value (FMV) of shares at Rs. 131.86 per share were not in accordance with...